SponsorsCPA.com - http://accountingpodcast.promo/cpaRelay - http://accountingpodcast.promo/relayCloud Accountant Staffing - http://accountingpodcast.promo/casRho - http://accountingpodcast.promo/rhoChapters(00:00) - Welcome to The Accounting Podcast (00:54) - Chaos Created by Doge (01:32) - Top Stories of the Week (02:17) - Listener Mail and Additional Topics (05:09) - Live Stream Interaction (06:42) - DOJ and Treasury Payment Freeze (17:40) - Young Engineers at DOJ (24:15) - Automation Features for Seamless Transactions (24:44) - Addressing Viewer Questions on Treasury Policies (25:34) - Debate on Federal Fund Vetting and Spending (27:57) - Government Bureaucracy and Political Battles (33:31) - The Role of Young Auditors in Government Agencies (40:38) - Adobe's Tax Tips: Helpful or Harmful? (43:54) - Final Thoughts on Government Efficiency and Partisanship  Show NotesComing soon!Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

SponsorsOnPay - http://accountingpodcast.promo/onpayKeeper - http://accountingpodcast.promo/keeperCloud Accountant Staffing - http://accountingpodcast.promo/casRho - http://accountingpodcast.promo/rhoChapters(00:00) - Welcome to The Accounting Podcast (03:37) - Government Employee Buyout Offer Update (09:24) - Undergraduate Accounting Enrollment Surge (12:38) - Illinois Proposes New CPA Pathways (14:25) - Elon Musk and IRS Direct File Controversy (18:16) - Doge's Access to Treasury Systems (26:53) - Tax Exemption on Tips: A Double-Edged Sword (30:19) - The Hidden Costs of Automation (38:03) - AI in Accounting: Current Innovations (47:03) - BDO Lawsuit: Inflated Revenues and ESOP (50:57) - Closing Remarks and Announcements  Show NotesComing soon!Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Blake and David examine several significant developments, including TaxDome's data security incident, and the implications of China's DeepSeek AI model that caused Nvidia's stock to drop. They also dig into the White House's federal employee buyout offer that could impact IRS staffing levels and break down key findings from Accounting Today's 2025 Year Ahead survey about trends in remote work, tech spend, and AI adoption in accounting firms.SponsorsKeeper - http://accountingpodcast.promo/keeperCloud Accountant Staffing - http://accountingpodcast.promo/casBasil - http://accountingpodcast.promo/basilChapters(00:24) - Introduction and Episode Overview (01:41) - Listener Shoutouts and Engagement (02:31) - Sports Banter and Mood Check (03:22) - Live Stream Interaction (05:11) - TaxDome Data Incident Discussion (22:24) - White House Buyout Offer for Federal Employees (31:26) - DeepSeek AI Model and Market Impact (36:24) - Exploring Perplexity's New DeepSeek R1 Model (36:58) - Comparing Reasoning Capabilities: R1 vs. ChatGPT (38:10) - The Google Search Analogy (39:16) - Concerns Over Unverified Financial Information (40:32) - Running AI Models on Personal Hardware (41:00) - Cost Implications for Businesses Using AI (42:59) - Innovation in Large vs. Small Firms (45:33) - Reforming the IRS: A New Approach (48:36) - Addressing the Accountant Labor Shortage (49:32) - Accounting Trends for 2025 (57:00) - The Role of AI in Accounting Tools (59:56) - Frustrations with Current Accounting Software (01:05:33) - Final Thoughts  Show NotesDeepseek R1 Explained by a Retired Microsoft Engineerhttps://www.youtube.com/watch?v=r3TpcHebtxMChina’s DeepSeek AI dethrones ChatGPT on App Store: Here’s what you should knowhttps://www.cnbc.com/2025/01/27/chinas-deepseek-ai-tops-chatgpt-app-store-what-you-should-know.htmlTaxDome reports security incident, says no sensitive data exposedhttps://www.accountingtoday.com/news/taxdome-reports-data-breach Reporting system error official post-mortemhttps://community.taxdome.com/c/resources/reporting-system-incident-official-post-mortem-794aebba-618b-4857-8aab-debca4e644ee TaxDome Post from Caleb Jenkins’ LinkedInhttps://www.linkedin.com/posts/calebjenkins1994_so-taxdome-can-you-tell-us-more-about-activity-7288762022882594816-X9eS?utm_source=share&utm_medium=member_desktopTrump administration offers roughly 2 million federal workers a buyout to resignhttps://www.nbcnews.com/politics/white-house/trump-administration-offer-federal-workers-buyouts-resign-rcna189661Trump suggests sending IRS agents to the borderhttps://www.yahoo.com/news/trump-suggests-sending-irs-agents-233900348.htmlAccounting in 2025: The year ahead in numbershttps://www.accountingtoday.com/list/accounting-in-2025-the-year-ahead-in-numbersTop 10 AI accounting tools every business needs in 2025https://www.accountancyage.com/2025/01/24/top-10-ai-accounting-tools-every-business-needs-in-2025/Xero's new tagline: 'Your business supercharged'https://www.accountingtoday.com/news/xero-announces-new-tagline-your-business-superchargedNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Blake and David jump into the latest news, including the launch of Trump's own cryptocurrency and KPMG's expansion into legal services in Arizona, taking advantage of new rules allowing non-lawyers to own law firms. They also examine the Treasury Department's Chinese hack attack, South Carolina's $1.8 billion accounting error resolution, and Trump's proposed External Revenue Service.SponsorsRelay - http://accountingpodcast.promo/relayKeeper - http://accountingpodcast.promo/keeperTaxBandits - http://accountingpodcast.promo/taxbanditsBasil - http://accountingpodcast.promo/basilChapters(00:48) - Trump's TikTok Saga (03:35) - Live Stream and CPE Credits (04:48) - Trump's Cryptocurrency Launch (06:54) - Sage AI Data Leak Incident (12:27) - Relay Sponsorship and Banking Solutions (14:13) - Trump's Cryptocurrency Impact (28:06) - Direct File and IRS Developments (32:45) - KPMG Enters Legal Services (38:51) - Tax Bandits: Streamlining Your Tax Season (39:50) - Legal Document Automation with AI (41:04) - South Carolina's $1.8 Billion Accounting Error (45:56) - Trump's External Revenue Service Proposal (49:54) - Chinese Hackers Breach U.S. Treasury (56:51) - FDIC Sues Silicon Valley Bank Executives (01:04:39) - American Express Settles for $230 Million Over Bad Tax Advice (01:08:28) - Testing Google's Gemini Advanced for Tax Research (01:12:17) - Earn Free CPE Credits with Earmark (01:14:22) - Conclusion and Live Stream Announcement  Show NotesTikTok restores US service after Trump says “we have to save it”https://www.reuters.com/technology/tiktok-goes-dark-us-users-trump-says-save-tiktok-2025-01-19/ Donald and Melania Trump debuted meme coins, $Trump and $Melania. Here's what to know.https://www.cbsnews.com/news/donald-trump-melania-meme-coin-cryptocurrency-what-to-know/ KPMG’s Bold Move: How Arizona’s ABS Rules Are Reshaping the U.S. Legal Landscapehttps://lawleaders.com/kpmgs-bold-move-how-arizonas-abs-rules-are-reshaping-the-u-s-legal-landscape/ IRS Direct File set to expand availability in a dozen new states and cover wider range of tax situations for the 2025 tax filing seasonhttps://www.irs.gov/newsroom/irs-direct-file-set-to-expand-availability-in-a-dozen-new-states-and-cover-wider-range-of-tax-situations-for-the-2025-tax-filing-season Sage Copilot grounded briefly to fix AI misbehaviorhttps://www.theregister.com/2025/01/20/sage_copilot_data_issue/ FDIC sues 17 former Silicon Valley Bank executives over collapesehttps://www.cnn.com/2025/01/16/business/fdic-sues-svb-executives-directors-intl-hnk/index.htmlFDIC sues former SVB execs over bank closurehttps://bankingjournal.aba.com/2025/01/fdic-sues-former-svb-execs-over-bank-closure/ SoftBank-Backed Fish Firm Allegedly Faked Most of Its Saleshttps://finance.yahoo.com/news/softbank-backed-fish-startup-allegedly-141253969.html American Express to pay $230 million to settle US charges over deceptive sales practiceshttps://www.reuters.com/business/finance/american-express-pay-1087-mln-settle-deceptive-marketing-allegations-justice-2025-01-16/ U.S. Sanctions Chinese Cybersecurity Firm Over Treasury Hack Tied to Salt Typhoonhttps://thehackernews.com/2025/01/us-sanctions-chinese-cybersecurity-firm.html SC auditor resigns after outside audit found $1.8 billion ‘surplus’ was actually an accounting errorhttps://www.wistv.com/2025/01/23/sc-auditor-resigns-after-outside-audit-found-18-billion-surplus-was-actually-an-accounting-error/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacc...

Dive into the drama of Bench's bankruptcy, uncovering their surprising spending habits and the pitfalls of their business model. Explore the rising venture capital interest in accounting, fueled by AI's promises of efficiency. The conversation heats up with a lively debate on JP Morgan's return-to-office policy, revealing stark divides in workplace flexibility preferences. Discover the intertwining future of AI and accounting, where human connection remains essential despite technology's encroachment.

Blake and David tackle Ohio's groundbreaking move to end the 150-hour CPA rule, which could spark similar changes in other states. They dissect the implications of Blackstone's acquisition of Citrin Cooperman and how private equity is reshaping accounting firms. A lively debate unfolds around return-to-office policies, as data shows a trend towards mandatory in-office days. Finally, the hosts question the effectiveness of Net Promoter Scores in gauging client satisfaction, urging firms to rethink their feedback strategies.

Blake and David explore the controversial H-1B visa program's impact on the accounting profession, particularly how firms like Deloitte reportedly pay visa holders 10% less than U.S. workers and the potential implications for audit quality. They also examine Bench's sudden shutdown and subsequent acquisition and then discuss Barry Melancon's farewell interview with the Financial Times as he steps down as AICPA CEO, where he defended the 150-hour rule, his legacy, and his impact on the profession. SponsorsOnPay - http://accountingpodcast.promo/onpayBoomTax - http://accountingpodcast.promo/boomtaxTaxBandits - http://accountingpodcast.promo/taxbanditsBasil - http://accountingpodcast.promo/basilChapters(05:01) - Sponsors and H1B Visa Discussion (11:14) - H1B Visa Impact on Accounting (26:53) - Bench Accounting Shutdown (45:17) - VCs and the Tough Decisions (47:42) - Challenges in Automating Bank Transactions (48:58) - H1B Visa Workers and Financial Misconduct (52:19) - Predictions for 2025 and Beyond (58:12) - Private Equity's Impact on Accounting Firms (01:08:15) - Barry Melanson's Legacy and the Future of CPA (01:15:23) - Conclusion and CPE Credits (01:16:45) - Bitcoin and Quantum Computing  Show NotesRobert Sterling – Twitter - H-1B DATA MEGA-THREADhttps://x.com/RobertMSterling/status/1873174358535110953 Deloitte employees with H-1B visas were paid 10% less than US workers, report findshttps://www.hrdive.com/news/deloitte-employees-with-h-1b-visas-were-paid-10-less-than-us-workers/735162/ Bench to be acquired after abruptly shutting downhttps://techcrunch.com/2024/12/30/bench-to-be-acquired-after-abruptly-shutting-down/ ‘Most important man in accounting’ warns against lowering standardshttps://www.ft.com/content/033792af-18e4-4d69-92f9-5b78b01f2012 Meet Willow, our state-of-the-art quantum chiphttps://blog.google/technology/research/google-willow-quantum-chip/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

The hosts dive into the significant shutdown of the bookkeeping startup Bench and the ongoing confusion around Beneficial Ownership Information reporting. They put IRS Commissioner nominee Billy Long under the microscope, questioning his credentials. The discussion shifts to alarming trends such as the declining number of CPA candidates and concerning audit quality. Wrapping up, they reflect on KPMG CEO's thoughts about the 'dying language of accounting' and explore the challenges technology, including AI, poses for the industry.

In this engaging discussion, Blake and David welcome ChatGpt, an advanced AI language model, to explore the current challenges in the accounting profession. They dive into how private equity impacts firm structures and partner compensation, linking it to rising accounting errors in companies. The conversation also touches on risks posed by talent shortages and the contentious debates surrounding new licensing proposals. Additionally, they ponder the economic implications of Daylight Savings Time, coupled with a dash of AI's influence on the industry.

Blake and David take a look at several significant developments in the accounting world, including Trump's controversial IRS Commissioner nomination of former Congressman Billy Long. They also dig into updates on the Macy's accounting scandal and explore Square's potential move into accounting software with their new head of Product Accounting Solutions hire. They also share insights from the AICPA's 2024 CAS benchmark survey showing significant growth in client accounting services practices and much more!SponsorsRoboDebit - http://accountingpodcast.promo/robodebitRelay - http://accountingpodcast.promo/relayCloud Accountant Staffing - http://accountingpodcast.promo/casTaxBandits - http://accountingpodcast.promo/taxbanditsChapters(00:28) - Welcome to The Accounting Podcast (00:40) - Digital CPA Conference Highlights (01:17) - CAS Practices on the Rise (02:22) - IRS Commissioner Nominee: Billy Long (03:42) - Employee Retention Tax Credit Controversy (14:45) - Macy's Financial Misstatements (28:30) - Intuit Assist: A Closer Look (29:48) - The Evolution of Bill Scanning with AI (31:25) - AI's Impact on Accounting Tools (33:06) - AI and Tax Returns: The Future of Automation (34:54) - Relay: The Ultimate Small Business Bank (36:19) - Supermicro's Accounting Scandal (40:48) - Square's Move into Accounting Solutions (57:21) - The Rise of Client Advisory Services (01:00:55) - Closing Remarks and Future Insights  Show NotesHe Promised Huge Tax Refunds. Now Trump Wants Him to Lead the I.R.S.https://www.nytimes.com/2024/12/06/us/politics/billy-long-trump-irs-tax-credit.html Brainsky Unleashed (Instagram) – Billy Long – December 6, 2024https://www.instagram.com/brainskyunleashed/reel/DDQS_GjRn4P/ Macy’s employee who hid $151 million in delivery expenses was trying to mask initial mistake, sources sayhttps://www.cnbc.com/2024/12/11/macys-m-earnings-q3-2024.html Macy’s Probe Found Employee Acted Alone in $151 Million Accounting Scandalhttps://www.wsj.com/business/retail/macys-m-q3-earnings-report-2024-c7363662 LinkedIn – Andy Schwartz – Profit Labs Update – December 6, 2024https://www.linkedin.com/posts/andy-schwartz-233b359_profit-labs-update-i-am-excited-to-share-activity-7269157016051298305-rYAW/ Amazon integrates QuickBooks for sellershttps://www.accountingtoday.com/news/amazon-integrates-intuit-quickbooks AICPA and CPA.com Benchmark Survey: CAS Practices Report 17% Growthhttps://insidepublicaccounting.com/2024/12/09/aicpa-and-cpa-com-benchmark-survey-cas-practices-report-17-growth/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsForwardly - https://www.forwardly.com/Client Hub - https://clienthub.app/Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page